Retirement plan

SAFE-HARBOR 403(B) THRIFT PLAN FOR EMPLOYEES OF UNITED FAMILY PRACTICE HEALTH CENTER

Name: UNITED FAMILY PRACTICE HEALTH - SAFE-HARBOR 403(B) THRIFT PLAN FOR EMPLOYEES OF UNITED FAMILY PRACTICE HEALTH CENTER (2023) Form 5500
Creator: UNITED FAMILY PRACTICE HEALTH
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SAFE-HARBOR 403(B) THRIFT PLAN FOR EMPLOYEES OF UNITED FAMILY PRACTICE HEALTH CENTER, UNITED FAMILY PRACTICE HEALTH

UNITED FAMILY PRACTICE HEALTHEIN 27-0052697Plan #001PY 2023

1026 7TH ST W - SAINT PAUL, MN 551023828651-758-9500LinkedIn1-10 employeeshuman resources

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$7M

+18.8% from 2022

Total participants

161

-5.3% from 2022

Average account balance

$51,326

+4.8% from 2022

Annual return

18.40%

+29.23 pp from 2022

Benchmarks

See 20,801 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort20,801 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$7.16M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$59K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

122

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

52.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$439K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+13.64%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 1 by compensation

Provider	Service type	Compensation
MUTUAL OF AMERICA INVESTMENT CORP2 years Service code 12 320 PARK AVENUE · NEW YORK, NY 10022	Recordkeeping and information managem...	$333

Plan features & details

Pension benefit codes2G2J2K2T2L

Plan features

2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$347

$5 / participant

Other / not subdivided$347100.0%

% of EOY assets

0.005%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$51,326

$77,908-34.1%

$149,696-65.7%

$75,173-31.7%

Participation rate

66.2%

65.6%+0.6pp

78.8%-12.6pp

67.2%-1.0pp

Annual return

18.40%

31.73%-13.3pp

134.46%-116.1pp

160.72%-142.3pp

Employer contribution / active EE

$3,364

$3,138+7.2%

$4,821-30.2%

$2,671+25.9%

Participant deferral / active EE

$5,222

$3,411+53.1%

$5,682-8.1%

$4,126+26.6%

Admin fee / account holder

$5,950-100.0%

$13,212-100.0%

$5,651-100.0%

Provider

Service type

Compensation

MUTUAL OF AMERICA INVESTMENT CORP2 years

Service code 12

320 PARK AVENUE · NEW YORK, NY 10022

Recordkeeping and information managem...

$333

SAFE-HARBOR 403(B) THRIFT PLAN FOR EMPLOYEES OF UNITED FAMILY PRACTICE HEALTH CENTER

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SAFE-HARBOR 403(B) THRIFT PLAN FOR EMPLOYEES OF UNITED FAMILY PRACTICE HEALTH CENTER

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion